CHICAGO -- BankAmerica Corp. completed the acquisition of Continental Bank Corp., boosting its corporate banking business and gaining a Midwest expansion platform.

Under the terms of the transaction, completed late Wednesday, investors exchanged Continental common shares for either 0.7993 share of BankAmerica common or $38.30 in cash. The purchase price totaled $1.98 billion, or about 124% of Continental's midyear book value.

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